HomeNewsNSSA investments director swindled of over $450 000

NSSA investments director swindled of over $450 000

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NATIONAL Social Security Authority (NSSA) investments director Chamunorwa Shadreck Vera was allegedly swindled of over $450 000 by his managing director, Takaidza Mupfiga, through alleged well-orchestrated fuel deals.

BY OUR SENIOR COURT REPORTER

The businessman, who owns CSVEE Energy, a fuel supplying firm, reportedly lost a substantial amount of diesel, petrol and paraffin after Mupfiga (36) allegedly misdirected company funds into his personal account.

This was after Mupfiga allegedly instructed his brother–in–law, Owen Madawo, to open an account with a local bank to facilitate the depositing of the stolen cash.

According to State papers, on different dates between May and September this year, CSVEE Energy supplied different fuel dealers in Harare with diesel, petrol and paraffin and was paid $465 004 which Mupfiga allegedly converted to his own use.

It is alleged on one occasion Mupfiga sent Madawo to collect cash from Downtown Petroleum after CSVEE Energy had supplied diesel and petrol valued at $145 965, but instructed Madawo to open an account and deposit $44 820 which he later allegedly converted to his own use.

Some of the fuel clients from whom the cash was allegedly collected and swindled were Rinnex Oil, Gazaland Garage, Zayne Petroleum, Kwaramba Garage, Perfect Bakery, Zim Bakery, Barco Chemicals, Trek Petroleum and Chifamba Garage.

Mupfiga, who is represented by Admire Rubaya, yesterday appeared before Harare magistrate Donald Ndirowei charged with theft of trust property and was remanded out of custody to December 17 for trial on $1 000 bail.

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